Good day, ladies and gentlemen, and thank you for standing by. Welcome to the AngioDynamics Third Quarter Fiscal 2013 Financial Results Conference Call. [Operator Instructions] This conference is being recorded today, Monday, April 8th, 2013. And I would now like to turn the conference over to Mr. Bob Jones. Please go ahead, sir.

Robert Jones

Thank you, operator. Welcome, everyone, and thank you for joining us for the AngioDynamics conference call this afternoon to review the financial results for the fiscal 2013 third quarter, which ended on February 28, 2013. The news release is available on AngioDynamics' website at angiodynamics.com. A replay of this call will be archived on the company's website.

Before we get started, during the course of this conference call, the company will make projections and forward-looking statements regarding future events, including statements about revenue and earnings for fiscal 2013. We encourage you to review the company's past and future filings with the SEC, including, without limitation, the company's Forms 10-Q and K, which identify specific factors that may cause the actual results or events to differ materially from those described in forward-looking statements.

[Operator Instructions]

And with that, I would like to turn the call over to Joe DeVivo, Chief Executive Officer.

Joseph M. DeVivo

Thank you, Bob, and welcome, everyone to our third quarter conference call. As you all know, we've pre-announced our third quarter financial results in early March, as our global sales came in well below the expectations that management set.

I'll open up today giving you my view, and then turn it over to Mark for a review of our financial results in more detail, and we'll share with you our perspectives on the quarter, as well as outlooks for the fourth quarter. We, of course, are going to save anything regarding 2014 for the fourth quarter call that occurs in the August time frame.

But so my comments today will be brief as this is really a follow-on to the prior call, and I'll save more detail for whatever Q&A you wish to have.

The third quarter was very challenging from a sales perspective, as it was significantly less than what our expectations were. The greatest contributor to our shortfall, in my view, after having some more time to dial into it, was the disruption that we've seen in our U.S. sales force.

We simply underestimated the time it would take to find the cadence of our new business. We've made a significant change to our go-to-market strategy, which not only impacted our customer relationships, but also internal relationships between sales management in the field. Each of our 3 organizations worked hard to learn new products and new territories and, in many ways, we've made significant progress.

Despite these near-term growth challenges, we shouldn't lose sight of the fact that AngioDynamics is fundamentally a much stronger company today than it was a year ago. Last year, we faced numerous product recalls and regulatory issues. Our oncology business was reeling on the heels of losing LC Beads and our vascular portfolio was subscale, having limited growth drivers. Since then, we've made significant progress in improving our quality and regulatory situation, organized ourselves in the 3 distinct businesses and have a shot at growth in the future.

Financially, we're stronger as well. In last year's third quarter, we posted $0.24 per share adjusted EBITDA performance. While this year, factoring in dilution from the transaction, it's $0.37 per share, a 60% improvement per share. Also our cash generation is up 47% year-over-year.

Strategically, we have significantly broadened our Vascular Access portfolio to keep [ph] more effectively with GPOs and IDNs. We've also added long-term growth drivers in BioFlo, AngioVac and Microsulis to help us refuel our growth engine in the coming years. Moreover, we're generating greater cash flow. As I mentioned, our adjusted EPS outside our amortization expense is [indiscernible] a year ago.

While there's very stiff competition, we believe we can compete and win. Today, these new products contribute less than 20% of our total sales and don't yet move the needle. We know that these growth rates will improve. And as they improve, the overall company growth will be pushed higher. We're excited about the market response we've received in our growth initiative. As I mentioned on our last call, our BioFlo PICCs represented over 10% of our overall PICC sales already. And we firmly believe that our acquisitions and investments position us to become a more competitive force in our markets that we serve, and we're committed to delivering a top line and bottom line growth for our investors that we've established.

I've met with our teams, I know what we need to do, and we are generating our plans that are going to create greater focus, accelerate our growth drivers faster and intent on closing the fourth quarter to have a better year in '14.

So with that, I'd like to turn it over to Mark Frost, our Chief Financial Officer. Mark?

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